First off, what is cryptocurrency lending, and why is her such a buzz about it. We will begin our journey at the failures of traditional finance. Traditional finance i...Read More
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|Website||https://komodoplatform.com/whitepaper/ , https://komodoplatform.com/|
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Among the top-notch, open-sources blockchain's in the market with heightened levels of innovation lies Komodo. Itis mainly based on the Proof-of-work as a consensus mechanism. KMD boasts of being the leading platform on technological Atomic swaps.
Inside the Komodo platform, we find a perfect integration of astounding elements and features. Such as; transaction privacy and anonymity, infinite scalability, bitcoin-level security, multichain synchronization, transparency, UXTO Smart Contracts, seamless blockchain experience and much more. Komodo is rated as a second-generation blockchain. Initially, it lies as Zcash which lies as Bitcoin's fork.
Due to the above developments, KMD's traditional cryptocurrency enhances transparency, privacy, anonymity and fungible transactions.
It seems like the top four Agenda's on Komodo's list are enhancement of; adaptability, interoperability, security and scalability. Komodo is based on Philosophical four pillars of blockchain technology.
The team behind the running of KMD are high-profile professionals who utmost uphold anonymity and privacy of community members. Therefore, they heavily apply pseudonyms as replacement of actual participant's names.
Due to this, people tend to develop a mentality that activities carried out by KMD are shady and suspicious. However, this is never the case as the team is more than willing to enrol new minds into the development team of software engineers.
Some of the key members in the development team include;
There's a combination of three core terms in the Komodo platform. The success terms include; SuperNet, Zcash and delayed Proof-of-work.
Zcash can be termed as a cryptocurrency that operates with Zero-Knowledge Proof of Protocol. This implies that crucial credentials such as; the amount of money and address are kept secret from other traders.
The delayed Proof-of-work in operation here on the Platform is merely astounding. The developers behind the software have just advanced it to a whole new level. Consequently, there is the provision of maximal security attributed to double-layer protection that was incorporated into the system.
SuperNET boasts of being a model that orchestrated features on Nxt's cryptocurrency platform. This allows for transcending operations between decentralized and centralized platforms, taking into consideration that security is a core factor. After the intense partnership, the SuperNET project officially made the Komodo Coin its official, digital money.
The KMD currency is made available in various exchange platforms. This thus hastens the process of acquisition. Some of the exchanges that allow trade of KMD Coins include; Cryptox, Bitfinex, BittrexCryptopia and CoinExchange.
However, always recall that if you intended to enjoy maximum simplification, it is better to purchase KMD's digital exchanging coins such as; Litecoin, Bitcoin or Ethereum.
Since the dawn of wallets in the market, storage, sending and receiving of KMD Coins has been made possible. Among the wallets offered it offers paper wallets and desktop wallets that have excellent features in them include;
KMD platforms operate on PoWs -delayed Proof-of-work. The system is almost identical to the BTC one, but with major advancements. In the delayed-proof-of work, transactions get linked to Komodo'sblockchain and later on recorded on theblockchain belonging to Bitcoin. The KMD blockchain comes with various advantages as;
Mining is one of the means to acquire KMD Coins that have been available to prospective investors. I one intends they may opt to mine alone or join a mining pool.
When it comes to solo-mining, one ought to be very cautious with the hardware and software in use. GPU and ASICs are some of these gadgets that we can utilize whenever we want to mine Komodo Coins.
GPUs are mainly used by solo-miners who wish to mine KMD at the comfort of their Personal Computers at home. However, some of the essential principalities required are; high computational power and high energy consumption. GPUs do not possess the necessary amount of computational power, and now we need to utilize ASICs.
ASICs are software designed and fully equipped with desired computation power. This, in turns, helps the miner to spot valid transactions and add them into the blockchain. Consequently, they get rewarded, with some of the portion going back to the community.
If a crypto investor intends to switch from one crypto to another, one is reliant on an intermediary or exchange platform. This increases the costs incurred in the transfer processes. With Atomic Swaps, one can switch from Coin X to Coin Y within a single transaction.
This is not achieved on an exchange platform but by direct exchanges between people. There are fixed rules put up to govern and monitor these exchanges in what we call Smart Contracts.
As several cryptocurrencies have launched their way into the market, KMD Coin has proven to be among the top contenders. Bearing in mind that this anonymous cryptocurrency has met the threshold conditions, we can safely deem it secure and viable.
This currency comes in handy in transactions in the Darknet world or in arenas that warrant total anonymity between transactions.
Some of the critical milestones attained by KMD include the following;
The above depicts the innovation-oriented nature of KMD. This is a good trait as from the look of things; we are bound to ensure growth and exponential returns accrued in KMD investment.
From the in-depth analysis of KMD we conclude that the following are some o the benefits reaped from investing in KMD Coins;
However, some of the cons of investment in KMD include;
In summary, KMD has proven to be secure and upheld top-notch degrees of privacy and anonymity. This fully serves its mission and meets demands on the cryptomarket.